Canal Expansion Worth $3.7 Billion

According to the Italian Impreglio construction company, the contract for the Panama Canal expansion could be worth $3.7 billion.

Tuesday, April 21, 2009

Impregilo belongs to one of three consortiums pre-selected to expand the Panama Canal. Its other partners are the Spanish Company Sacyr Vallehermoso SA, the Portuguese Company Somague, the Belgian Company Jan de Nul and the Panamanian Company Cusa. The Italians have a 37% participation.

According to a report by Reuters, the other participants in the bid are the C.A.N.A.L Consortium, which is made up of the Spanish Companies ACS SA and Acciona SA, the German Company Hochtief AG and a Japanese-American Consortium led by Bechtel.

More on this topic

Canal Expansion: A Light At The End of The Tunnel

February 2014

The Canal Authority and the consortium have agreed to resume the works, but delivery times and other key aspects still need to be defined.

Grupo Unidos por el Canal has pledged to restart, on February 20, the construction of the Third Set of Locks. As soon as the works are restarted the ACP will remit $36.8 million related to payments billed by the consortium last December.

Works Begin at Third Set of Locks

January 2010

Consortium "Grupo Unidos por el Canal" will begin building the locks at the Atlantic side of the Panama Canal on January.

The consortium will start at the end of January in order to take advantage of the dry season.

"Personnel will be hired gradually... when the construction peaks, in mid-2011, there will be between 5.000 and 5.500 people working", reported

Canal Excavation Contract for $267.7 Million

December 2009

Such is the amount proposed by the lowest-priced bid, by consortium Fomento de Construcciones y Contrata (FCC), Mexico's ICA and MECO.

Other companies bidding for the contract include Brazil's Odebrecth, Belgium's Jan de Nul, and the consortium Impregilo, Sacyr and Cusa (ISC).

Canal Works to Start in September

August 2009

Before August 19, the Panama Canal Authority will order for starting construction of the third set of locks of the Panama Canal.

7 days after the Canal Authority gives the order, the consortium "Grupo Unidos por el Canal" (GUPC), will have 1.883 days to complete the project.

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